Wednesday, March 18, 2009

Market Voices 18-03-09

 Buy Idea Cellular with a target of Rs 52-56 and stop loss of Rs 42, says Husseini Wadharia of Techno Shares on CNBC Awaaz. The stock is currently trading at Rs 46, up 3.13% on the BSE. 

Buy Hexaware Technologies, if it stays above Rs 25 it has a target of Rs 36-48 and maintain a stop loss of Rs 25, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 28.6, up 27% on the BSE.  

Hold Noida Toll Bridge with a target of Rs 25 where one can exit the stock, says Simi Bhaumik, technical analyst, on Zee Business. Maintain a stop loss of Rs 20, she adds. The stock is currently trading at Rs 22, up 2.5% on the BSE.  

The medium term trend continues to be up so it is best to stay long for now, says Deepak Mohoni, technical analyst, on CNBC Awaaz. If the international cues are negative and continue to stay under pressure then only one can go short, he adds.  

The market closed off the day's highs and the steam was taken off its bear rally towards close. Sensex closed at 8977, up 113 points (provisional) and Nifty was at 2792, up 34 points (provisional)from the previous close. CNX Midcap index was up 3.5% and BSE Smallcap index was up 1.90%. The market breadth was positive with advances at 860 against declines of 351 on the NSE.  

Buy Nifty March futures with a target of Rs 2860 and stop loss of Rs 2740, reports virattechindia.com on CNBC Awaaz, as closing market strategy.  

Buy Axis Bank with a target of Rs 360 and stop loss of Rs 330, says prakashgaba.com on CNBC Awaaz, as closing market strategy. 

Go long on 2800 straddle, says Rajat Bose, technical analyst, on CNBC TV18, as closing market strategy.  

Square existing longs and fresh long to be initiated only above Nifty 2830, says Vijay Bhambwani, technical analyst, on CNBC TV18, as closing market strategy.  

Hold LIC Housing Finance with a target of Rs 212 and if it sustains above this then it can go to Rs 240, says Jatindar Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 206, up 2.6% on the BSE. 

The market is dependent on global cues and that is why it saw a rally for four-days on the trot, says Rajesh Jain of Pranav Securities, on Zee Business. But the fundamentals for our market have not changed and one cannot say that the worse is over yet, he adds. Four factors - election uncertainty, corporate results, FII allocation and monsoon will continue to chart the way forward for the market, he adds.  

The market is witnessing some profit booking and is off the day's highs. Sensex is trading at 8979, up 115 points and Nifty is at 2796, up 39 points from the previous close. CNX Midcap index is up 2.78% and BSE Smallcap index is up 1.94%. The market breadth is positive with advances at 880 against declines of 316 on the NSE.  

Buy Suzlon with a target of Rs 44-52 and stop loss of Rs 33, says Husseini Wadharia of Techno Shares on CNBC Awaaz. The stock is currently trading at Rs 38, up 6.6% on the BSE. 

Hold Adlabs Films with a target of Rs 167-180 and if it sustains above this then it can go to Rs 220, says Simi Bhaumik, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 145, she adds. The stock is currently trading at Rs 156, up 2.05% on the BSE.  

Buy Nagarjuna Constructions with a target of Rs 54-60 and stop loss of Rs 42, says Husseini Wadharia of Techno Shares on CNBC Awaaz. The stock is currently trading at Rs 49, up 12.4% on the BSE.  

Hold Century Textiles with a target of Rs 200 and if it sustains above this then it can go to Rs 245, says Simi Bhaumik, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 175, she adds. The stock is currently trading at Rs 196, up 4.6% on the BSE.  

Buy JP Associates with a target of Rs 87-95 and stop loss of Rs 74, says Husseini Wadharia of Techno Shares on CNBC Awaaz. The stock is currently trading at Rs 81, up 9.5% on the BSE.  

Hold UCO Bank with a target of Rs 25-26 where one can exit the stock, says Simi Bhaumik, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 22, she adds. The stock is currently trading at Rs 23, up 1.9% on the BSE.  

Nifty has major resistance at 2835, says Rajat Bose, technical analyst, on CNBC TV18. If Nifty closes above 2835 decisively then only one can make a fresh buy call, he feels. If this pullback rally sustains it could go up to 2950-3000, he adds. But book partial profits around Nifty 2830, he advises.  

The European markets have opened positive. The Indian market continues to look good. Sensex is trading at 9104, up 240 points and Nifty is at 2832, up 74 points from the previous close. CNX Midcap index is up 3.17% and BSE Smallcap index is up 2.64%. The market breadth is positive with advances at 953 against declines of 225 on the NSE. 

Buy Rolta India around Rs 43 with a target of Rs 88-90, says E Mathew, technical analyst, on CNBC TV18. The stock is currently trading at Rs 55, up 3.9% on the BSE.  

Buy ICSA India on dips with a target of Rs 80 and if it sustains above this then it can go to Rs 94-100, says Simi Bhaumik, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 69, up 9.2% on the BSE.  

Hold Tech Mahindra as it has resistance at Rs 275-280 where one can book profits and exit the stock, says Hormuz Maloo, technical analyst with Geojit Financial Services, on CNBC Awaaz. The stock is currently trading at Rs 271, up 2.7% on the BSE. 

Buy ICSA India on dips around Rs 53 with a target of Rs 90-142, says E Mathew, technical analyst, on CNBC TV18. The stock is currently trading at Rs 69, up 9.2% on the BSE. 

ICSA India has bagged three orders worth Rs 464.17 crore from the Bihar government, reports NDTV Profit. The stock is currently trading at Rs 69, up 8.8% on the BSE.  

The global rally is unlikely to sustain for long, says Devina Mehra of First Global on CNBC TV18. The worst is not yet over for core economies in the US, she says. There may be more bad news in the Indian market on the economic and corporate front, she feels. In the banking space, PSU banks look better than private banks, she adds.  

It is yet too early to say that the market has formed a bottom, feels Anup Maheshwari of DSP BlackRock MF, on CNBC TV18. The market needs to spend some more time at these levels, he says. The market is likely to readjust its valuations over the next one year, he adds. He prefers the PSU banking space over private banks.  

The Asian markets are trading mixed. The Indian market is upbeat and trading firm. Sensex is trading at 9052, up 189 points and Nifty is at 2816, up 59 points from the previous close. CNX Midcap index is up 2.9% and BSE Smallcap index is up 2.41%. There is good buying in realty, metal, oil and gas and banking stocks. The market breadth is positive with advances at 934 against declines of 230 on the NSE.  

Buy SBI Bank at Rs 970 with target of Rs 995-1010, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 954, he adds. The stock is currently trading at Rs 964.40, up 1.6% on the BSE.  

Traders buy Unitech on dips at below Rs 25, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Book profits at Rs 28 and Rs 30, he adds. He does not advise long-term investment. The stock is currently trading at Rs 26.85, up 3.5% on the BSE.  

Buy NTPC with target of Rs 190, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 168, he adds. The stock is currently trading at Rs 175.20, up 1% on the BSE.  

Hold SBI for two years, says PK Agarwal of Bonanza Portfolio on NDTV Profit. It is a good stock to hold for big returns in long term, he adds. The stock is currently trading at Rs 966, up 1.7% on the BSE.  

Traders buy Cairn India on dips at Rs 125-110, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Book profits at Rs 180 and Rs 200, he adds. The stock is currently trading at Rs 177.30, up 4.5% on the BSE.  

Buy ICICI Bank for two-day trade at Rs 335 with target of Rs 350, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 332, he adds. The stock is currently trading at Rs 336.70, up 3.9% on the BSE.  

Buy Reliance Communications with long-term view, says Vijay Bhambwani, technical analyst, on CNBC TV18. It can go up to Rs 300-320 in 2-3 years' time, he adds. The stock is currently trading at Rs 165.25, up 4.7% on the BSE.  

Buy Ashok Leyland at current levels with targets of Rs 23 and Rs 27, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 16, he adds. The stock is currently trading at Rs 18.25, up 4.3% on the BSE.  

At noon, the market is trading firm, looking very good near the day's high. Sensex is trading at 9082, up 219 points from its previous close, and Nifty is at 2824, up 67 points. CNX Midcap index is up 3% and BSE Smallcap index is up 2.4%. The market breadth is positive with advances at 923 against declines of 200 on the NSE.  

Intra-day traders can hold Rolta India with stop loss of Rs 54, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Book profit at Rs 60 levels, he adds. The stock is currently trading at Rs 55.55, up 3.8% on the BSE.  

Buy Tata Motors with target of Rs 192, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 160, he adds. The stock is currently trading at Rs 179, up 4% on the BSE.  

We did not see a meaningful bear market rally in the last one year and seem to be in one now, says Hans Goetti of LGT Bank on CNBC TV18. The rise is driven purely by better sentiment after concerted efforts by the US govt and banks, he adds. However, he believes that the fundamentals have not changed as we are in the middle of a structural recession. EMs and Asia may continue to outperform and India could go up to the key technical level of 10200 in the near term, he adds. 

Hold MTNL and exit when it reaches Rs 75-85, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. There will be buying opportunity at Rs 60 level, he adds. The stock is currently trading at Rs 66.15, up 1.9% on the BSE.  

Hold Suzlon Energy for long term, says MB Singh, technical analyst, on Zee Business. It will give good profits in 2-3 years, he adds. The stock is currently trading at Rs 38.35, up 5.9% on the BSE.  

Hold Educomp Solutions, says Rajat Bose, technical analyst, on CNBC Awaaz. If it does not sustain Rs 1980 level, then book profit. Otherwise, hold with stop loss of Rs 1980, he adds. The stock is currently trading at Rs 1996.25, up 0.6% on the BSE.  

Market saw some profit booking which was expected after four days of gains, says Tushar Mahajan of Edelweiss Securities on CNBC TV18. He feels that Nifty could stabilise around 2700 in the coming days. Volumes have been high, especially in Options where traders are playing for a range of 2500-2900 for both March and April series, he adds.  

Hold ICSA-India with target of Rs 100, says Neera Jain, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 50, she adds. The stock is currently trading at Rs 70.10, up 10.5% on the BSE.  

An hour into opening, the market continues to show gains in line with the international market with the Asian markets trading firm, too. Realty, banking and metal stocks are surging. Sensex is trading at 9065, up 203 points from its previous close, and Nifty is at 2818, up 61 points. CNX Midcap index is up 2.8% and BSE Smallcap index is up 2.1%. The market breadth is positive with advances at 868 against declines of 203 on the NSE.  

Hold Mercator Lines with stop loss of Rs 20, says Neera Jain, technical analyst, on CNBC Awaaz. It can go up to Rs 30-32 at which levels book profit, she adds. The stock is currently trading at Rs 26.35, up 2.3% on the BSE. 

Private banks will show more downside in the coming time, says Devina Mehra, market expert, on CNBC Awaaz. PSU banks are a safer investment bet, she adds.  

Sell Tata Communications at Rs 445 with target of Rs 436, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 451, she adds. The stock is currently trading at Rs 448.05, up 0.7% on the BSE.  

Hold Aban Offshore with stop loss below Rs 230, says Pradeep Surekha, technical analyst, on Zee Business. It has resistance at Rs 310-318, he adds. The stock is currently trading at Rs 306.50, up 6.9% on the BSE.  » Send to friends

10:34 AM - Hold Everonn Systems with short-term target of Rs 168-170, says Rahul Mohindar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 159.60, up 2.2% on the BSE.  

Hold Ambuja Cement with stop loss of Rs 60, says Neera Jain, technical analyst, on CNBC Awaaz. Fresh buying should be done only if it crosses Rs 75, she adds. The stock is currently trading at Rs 68.75, up 1.9% on the BSE.  

Buy Tech Mahindra at Rs 264 with target of Rs 275, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 256, she adds. The stock is currently trading at Rs 273.10, up 3.4% on the BSE. 

Hold PNB with stop loss of Rs 290, says Neera Jain, technical analyst, on CNBC Awaaz. It can go up to Rs 360-380 at which levels book profit, she adds. The stock is currently trading at Rs 336.70, up 2.6% on the BSE.  

Hold JP Associates with stop loss of Rs 72, says Pradeep Surekha, technical analyst, on Zee Business. It has resistance at Rs 78-79, crossing which it can go up to Rs 87, he adds. The stock is currently trading at Rs 77.05, up 3.6% on the BSE.  

The market opens on a positive note this morning in the steps of good global cues. It is a reasonable good start to trade today. Sensex is trading at 9001, up 137 points from its previous close, and Nifty is at 2797, up 40 points. CNX Midcap index is up 1% and BSE Smallcap index is up 1.1%. 

Buy Reliance Communications at Rs 158 with target of Rs 163, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 154, she adds. The stock is at Rs 157.90, up 0.7% on the BSE. 

The market is in a minor uptrend now, says Sudarshan Sukhani, technical analyst, on CNBC TV18. He advises buying on dips and breakouts. He sees 2800 as a sign of resistance for the Nifty and if this is crossed then 150 points will be available for long traders, he adds.  

The range for the Nifty today is 2750-2804, says Ashwani Gujral, technical analyst, on CNBC TV18. As long as it is trading above 2700, every dip should be used to go long as the short term trend is up, he adds.  

The crucial decider level for the Nifty today is 2820, says Rahul Mohindar, technical analyst, on CNBC Awaaz. Traders should keep an eye on this level, he adds. He believes that if this level is sustained then Nifty could cross 3000. He sees support at 2730.